Govt saved around Rs 201 billion on oil import in July-December 2015

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ISLAMABAD – Government saved around Rs 201 billion in the last six months on import of petroleum products,

Statistics issued show that crude oil and other petroleum products worth USD 4.17 billion were imported in July-December period of the last year.

While in the same time period of the last fiscal year (FY), the government spent USD 6.94 billion on import of petroleum products. Crude oil worth USD 1.47 billion while other products worth USD 2.70 billion were imported in six months.

Resultantly, the government saved around Rs 201 billion.

Earlier on January 13, Ministry of Petroleum stated that after reduction of oil prices in international market, there are chances of relative cut in Pakistan as well.

The price of Arab light crude oil was decreased by USD 25 per barrel, to its lowest in 13 years.

Ministry of Petroleum mentioned the probability of decrease in petrol price by Rs 9/ litre and high speed diesel by Rs 8.74/litre from February 1st.

Similarly, kerosene oil price is likely to be reduced by Rs 9.77 and high octane by Rs 13 per litre. Light diesel price is expected to fall by Rs 8.56/litre.

2016-01-21

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